UBS Keeps Their Hold Rating on MEG Energy (MEGEF)

UBS analyst Lloyd Byrne maintained a Hold rating on MEG Energy (MEGEFResearch Report) today and set a price target of C$8.00. The company’s shares closed last Monday at $5.33.

According to, Byrne is a 3-star analyst with an average return of 3.3% and a 51.4% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Southwestern Energy, and Chesapeake Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MEG Energy with a $5.84 average price target, an 11.9% upside from current levels. In a report issued on January 13, RBC Capital also maintained a Hold rating on the stock with a C$6.50 price target.

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The company has a one-year high of $6.14 and a one-year low of $3.08. Currently, MEG Energy has an average volume of 9,807.

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MEG Energy Corp. is oil sands company, which engages in the development and production of in situ. It also operates oil recovery projects which utilize steam-assisted gravity drainage including Christina Lake, Summont, and May River Regional Project. It offers Steam-Assisted Gravity Drainage, eMSAGP, Cogeneration, and HI-Q Field Pilot technology.